Committed Inventory definition

Committed Inventory means tobacco inventories for which the Borrower has received a Confirmed Order.
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Committed Inventory. The inventory scheduled on Schedule 1.3.1 shall be the Committed Inventory.
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Committed Inventory. Finished Goods Inventory of the Borrower which an Account Debtor has agreed in writing to purchase from the Borrower.
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Examples of Committed Inventory in a sentence

  • In the event of production delays requested or caused by Buyer in excess of 90 days, Buyer shall purchase from Seller all Committed Inventory held at Seller during the period and pay a 1.25%/month Storage Fee until delivery of all Products or Committed Inventory from Seller to Buyer is made.

  • The fee calculation shall be made using the applicable percentage from either 8.5(b) or 8.5(c) above multiplied by the average monthly value of the Committed Inventory held by Seller during the period as to which the fee applies.

  • The Inventory and Committed Inventory of Seller consists of new manufactured and purchased parts, goods in process, and finished goods, all of which is merchantable and fit for the purpose for which it was procured, and none of which is damaged, or defective.

  • Seller's actual costs associated with non-returnable or non-cancelable Committed Inventory including Committed Inventory that has been rendered non-returnable due to work performed in accordance with this Agreement and associated Purchase Orders; [***] Confidential information has been omitted and filed separately with the Securities and Exchange Commission pursuant to a confidential treatment request.

  • In the event that Buyer cancels a Purchase Order or terminates this Agreement pursuant to Section 2.0, the following terms shall apply to Committed Inventory purchased or committed to as a result of Purchase Order.

  • As of the end of each fiscal quarter, the ratio of (i) Consolidated Average Total Indebtedness minus Consolidated Average Cash on Hand minus the amount of Committed Inventory plus Customer Advances and Deposits to (ii) Consolidated EBITDA shall not be greater than 3.00 to 1.00.

  • Notwithstanding the foregoing or any other provision of this Agreement to the contrary, at such time and to the extent Purchaser requires additional materials identical to those included within the Committed Inventory in connection with the manufacturer of Products of the Business after the Closing Date, Purchaser agrees to first purchase at their Fair Market Value those items from Seller’s Committed Inventory prior to purchasing such items from any third party vendor or CM.

  • To the extent Buyer is using one of the designated CEMs and is required to purchase or have purchased materials identical to those included within the Committed Inventory at such CEM in connection with the manufacturer of Products of the Business by such CEM, Buyer shall first purchase (at Seller’s cost) those items from such Committed Inventory prior to purchasing (or directing CEM to purchase) such items from any third party vendor.

  • As of the end of each fiscal quarter, the ratio of (i) Consolidated Average Total Indebtedness minus Consolidated Average Cash on Hand minus Consolidated Average Committed Inventory plus Consolidated Average Customer Advances and Deposits to (ii) Consolidated EBITDA shall not be greater than 3.00 to 1.00.

  • The storage fee shall be 1.25% per month of actual costs associated with the Committed Inventory ("Storage Fee").


More Definitions of Committed Inventory

Committed Inventory means, in relation to a member of the Tobacco Group at any time, the aggregate processed and unprocessed tobacco stocks owned by such member of the Tobacco Group which are the subject of a Confirmed Order with a Person which is not a Tobacco Group Company on arms length terms and on the basis that title remains with such member of the Tobacco Group until payment in full is received for such tobacco as shown in the most recent Borrowing Base Certificate delivered under clause 20.4 (Borrowing Base certificate).
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Committed Inventory includes Component’s in Seller’s inventory, together with Components subject to purchase orders or other written commitments from Seller to Seller’s suppliers, that are purchased by or otherwise committed to by Seller as a result of Purchase Orders, including Components actually received by Seller or included on non-cancelable, non-returnable or limited change purchase orders from Seller to Seller’s suppliers for Components that will be received by Seller during the delay period.
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Committed Inventory means all pharmaceutical and non-pharmaceutical inventories on hand attributable to the mail and specialty components of the
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Committed Inventory means tobacco inventories for which the Borrower has received a Confirmed Order. “Commodity Exchange Act” means the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to time, and any successor statute. “Communications” means, collectively, any notice, demand, communication, information, document or other material provided by or on behalf of any Loan Party pursuant to any Loan Document or the transactions contemplated therein which is distributed by the Administrative Agent, any Lender or any Issuing Bank by means of electronic communications pursuant to Section 8.03(c), including through an Approved Electronic Platform. “Confirmed Order” means an order by a customer (other than an Affiliate of the Borrower) that has been accepted in the ordinary course of business by representatives of the Borrower or an Affiliate of the Borrower and recorded on the inventory records of such Affiliate or the Borrower. “Connection Income Taxes” means Other Connection Taxes that are imposed on or measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes. “Consolidated Accumulated Other Comprehensive Income” means, for the Consolidated Group, at any time, the accumulated change in shareholders’ equity of the Borrower caused by the recognition of other comprehensive income as defined in accordance with GAAP applied on a consistent basis. “Consolidated Average Committed Inventory” means the quotient obtained by dividing (i) the sum of the Committed Inventory of the Consolidated Group as of the end of each of the preceding four fiscal quarters by (ii) four (4). “Consolidated Average Customer Advances and Deposits” means the quotient obtained by dividing (i) the sum of the Customer Advances and Deposits of the Consolidated Group as of the end of each of the preceding four fiscal quarters by (ii) four (4). “Consolidated Average Total Indebtedness” means the quotient obtained by dividing (i) the sum of the total Indebtedness of the Consolidated Group as of the end of the preceding four fiscal quarters by (ii) four (4). 6
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Committed Inventory means all purchases on hand for order fulfillment on a given purchase order whether purchased before or after receipt of a signed purchase order so long as the inventory was not available for any other use than performance on the Seller's obligations or pending obligations to the Buyer.
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Committed Inventory means all pharmaceutical and non-pharmaceutical inventories on hand attributable to the mail and specialty components of the Business and located at the Columbus Facility (or in transit to such Facility) and owned by the Sellers or held by the Seller as custodians for any third party or any Affiliate thereof (including private label inventory) and supplies (including containers, labels and packaging items) as of the Effective Time with respect to which the Selling Parties or their Affiliates commit to sell prior to the Effective Time but that has not been shipped or delivered by the Selling Parties or their Affiliates as of the Effective Time.
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Related to Committed Inventory

  • Excluded Inventory has the meaning set forth in Section 2.2(b).

  • Eligible Inventory means and include Inventory, excluding work in process, with respect to each Borrower, valued at the lower of cost or market value, determined on a first-in, first-out basis, which is not obsolete, slow moving or unmerchantable as determined by Agent in its Permitted Discretion and which Inventory, based on such considerations as Agent may from time to time deem appropriate in its Permitted Discretion including whether the Inventory is subject to a perfected, first priority security interest in favor of Agent and no other Lien (other than a Permitted Encumbrance). Notwithstanding anything herein to the contrary, no Inventory shall be Eligible Inventory to the extent such Inventory was acquired by a Borrower pursuant to an entity creation under Section 7.12 or a Permitted Acquisition, unless Agent has (i) completed field examinations with respect to such Inventory, the results of which are satisfactory in form and substance to Agent in its Permitted Discretion or (ii) waived such restriction in its Permitted Discretion. In addition, Inventory shall not be Eligible Inventory if it: (a) does not conform in all material respects to all standards imposed by any Governmental Body which has regulatory authority over such goods or the use or sale thereof; (b) is in transit (other than between one or more locations where Borrowers are permitted hereunder to maintain or store Inventory and such location is the subject of a Lien Waiver Agreement or a Processor’s Agreement, as applicable, unless such location is owned by Borrower); (c) is located outside the continental United States or at a location that is not otherwise in compliance with this Agreement; (d) constitutes Consigned Inventory (other than Consigned Inventory that is subject to a warehouseman’s waiver in form and substance satisfactory to Agent); (e) is the subject of an Intellectual Property Claim; (f) is subject to a License Agreement that limits, conditions or restricts the applicable Borrower’s or Agent’s right to sell or otherwise dispose of such Inventory, unless Agent is a party to a Licensor/Agent Agreement with the Licensor under such License Agreement (or Agent shall agree otherwise in its Permitted Discretion after establishing reserves against the Formula Amount with respect thereto as Agent shall deem appropriate in its Permitted Discretion); (g) at any time following seventy-five (75) days after the Closing Date (or such later date agreed to by Agent), is situated at a location not owned by a Borrower unless the owner or occupier of such location has executed in favor of Agent a Lien Waiver Agreement or a Processor’s Agreement, as applicable (or Agent shall have established reserves against the Formula Amount with respect thereto as Agent shall deem appropriate in its Permitted Discretion in an amount not to exceed the equivalent of three (3) months’ rental obligation with respect to such location); or (h) if the sale of such Inventory would result in the creation of a Receivable which, on the date of such sale, would fail to constitute an Eligible Receivable due to the operation of any of clauses (b), (c) or (e) – (p) of such definition.

  • Transferred Inventory has the meaning set forth in Section 2.2(a)(iii).

  • Consigned Inventory means Inventory of any Borrower that is in the possession of another Person on a consignment, sale or return, or other basis that does not constitute a final sale and acceptance of such Inventory.

  • Excess Inventory means all Inventory and Special Inventory possessed or owned by Flextronics that is not required for consumption to satisfy the next [***] of demand for Products under the then-current purchase order(s) and forecast.